Achieving Dialogue In The Age Of The Omni-Channel Customer


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"Blast" marketing strategies of the past are no longer sufficient to engage today's customers and foster loyalty. Typical campaign response rates have plummeted while customer opt-out rates have ascended, limiting your ability to converse with even your most valuable customers. New automated dialogue strategies can help retailers create a seamless experience across all channels and engage with each of their customers as individuals, connecting every customer communication - outbound, inbound, marketing, sales or service - into an ongoing dialogue where customer insight and understanding forms the basis for each and every interaction.

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Achieving Dialogue In The Age Of The Omni-Channel Customer

  1. 1. #CustomerDialogue Achieving Dialogue In The Age Of The Omni- Channel CustomerPresented by Sponsored by #CustomerDialogue
  2. 2. Welcome Webinar Attendees Type  ques)on  here   #CustomerDialogue
  3. 3. Follow This Webinar On Twitter #CustomerDialogue #CustomerDialogue
  4. 4. About Retail TouchPointsü  Launched in 2007ü  Over 23,000 subscribersü  To provide executives with relevant, insightful content across a variety of digital medium Free subscription to our weekly newsletter: WWW.RETAILTOUCHPOINTS.COM/SIGNUP #CustomerDialogue
  5. 5. Panelists Jeff Nicholson, VP Alicia Fiorletta Global Marketing – Associate EditorCustomer Analytics and Retail TouchPoints Interaction Pitney Bowes Software #CustomerDialogue
  6. 6. Achieving Dialogue In The Age Of TheOmni-Channel CustomerJeffrey M. NicholsonVice-President of Global MarketingCustomer Data, Analytics and InteractionPitney Bowes Software
  7. 7. Welcome!   Jeff  Nicholson   VP  of  Global   Customer  Analy.cs  and  Interac.on   Pitney  Bowes  So-ware      
  8. 8. Agenda  Now  lets;  review  how  PBBI  capabili5es  are  synched  and  matched  to  the  requirements  of  an  organiza5on  in  helping  them  build  out  life5me  rela5onships  with  their  customers.      
  9. 9. Audience Poll
  10. 10. Audience  Poll  (Select  Mul)ple)        Which  of  the  following  channels  does  your  organiza)on  use  to     conduct  1:1  marke)ng  campaigns?       • Store  /  Call  Center   • Web  Site   • Mobile  /  Social   • Direct  Mail   • Email  
  11. 11. Audience  Poll  (Select  One)          Does  your  organiza)on  have  a  current  ini)a)ve  or  outward  facing   market  message  regarding    being  “customer-­‐centric”?     •  Yes   •  No  
  12. 12. Is  THIS  How  Your  Customers  Feel?  
  13. 13. Top  Trends  Affec)ng  Customer  Marke)ng   More and more More channels, need for Less brand loyalty Greater expectation customer data! connected conversations of value Increased expectation of relevanceHeightened competitive climate Increased ad-fatigue Increasing importance ofcustomer centricity Corporate   Customer   Increased opt-out Trends   Trends   Customer insight now a Economic required core competency pressures, Effec)veness   Efficiency   smaller budgets Need for predictive Drivers   Drivers   Mini-capex analytics to ensurecustomer relevance More  accountability  for   results:     test  &  measure  Optimization, desireto balance needs of customer with Drive to increase corporation goals throughput Fundamental need for a 360° Focus  on  efficiency  &   view -- customer portrait repeatability  through  automa5on  
  14. 14. Agenda  Now  lets;  review  how  PBBI  capabili5es  are  synched  and  matched  to  the  requirements  of  an  organiza5on  in  helping  them  build  out  life5me  rela5onships  with  their  customers.      
  15. 15. The “Customer-centricity Chasm” Expecta)on   Reality   •  We  understand  them   •  Product-­‐centric  campaigns   •  We  value  their  business   •  Opera5onally  focused   •  We  deliver  on  our  promises   •  Informa5on  &  channel  silos   •  We  remember  them   •  Independent  business  units   •  We  strive  for  relevancy   •  Customer  ad  fa5gue   •  We  are  connected   •  Limited  capacity  for   engagement  “What  customers  expect  from  us”   “What  we  actually  have”  
  16. 16. “The Customer-centricity Chasm” DATA INCREMENTAL CRM CRM TOUCH POINTS Right message, right time Customer Profile Dialogue across touch points Optimize engagement Inbound “Line of Outbound sight” Transaction Infuse customer-specific insight into touch points Channel Lines of Business Understand past behavior Predict future needs “Hindsight” “Foresight” What à Why Next à ChangeCustomer Preference
  17. 17. Agenda  Now  lets;  review  how  PBBI  capabili5es  are  synched  and  matched  to  the  requirements  of  an  organiza5on  in  helping  them  build  out  life5me  rela5onships  with  their  customers.      
  18. 18. Marke)ng  Strategy  is  Transforming   Campaign   Dialogue  •  Direct   •  Two-­‐way  •  Product   •  Value-­‐add  •  Campaign   •  Conversa5on  •  Interrup5on   •  Par5cipant  •  Loyalty  Scheme   •  Trusted  Rela5onship  •  Push   •  Customer  Access  •  Channel-­‐specific   •  Channel-­‐agnos5c  
  19. 19. Choreographing  the  Life)me  Customer  Rela)onship     Acquire > Onboard > Serve > Grow > Retain/ Reconnect Op)mized  Customer  Rela)onship  Revenue   Value   Typical  Customer  Lifecycle   $0   Suspect/ Customer Active Best Recaptured Prospect Customer Customer Customer Required Competencies Data Insights (Analytics) Strategy Relationships/Communications
  20. 20. Optimized Customer Dialogue Customer   We  sent  you  Customer   completes   an  email   Documents   preferences   yesterday  –   generated   do  you  have   and  mailed   any   ques)ons?   Thank  you  for   upda)ng  your   preferences!   Offer   acceptance   feedback   Personalized   survey   offer   Please   update  your   Last  day  of   personalized   Value   preferences   reinforcement     offer   -­‐  you  saved  $X   Your  Business   The  Results     •  Improved  customer  experience   •  Increased  customer  sa5sfac5on  and  advocacy     •  Increased  customer  value,  wallet  share   •  Improved  customer  reten5on   •  Single  source  for  customer  preferences   20  
  21. 21. Cri)cal  Components  for  Achieving  Cross-­‐channel  Dialogue   DATA   MANAGEMENT   INSIGHT   STRATEGY  COMPANY   COMMUNICATIONS   OUTBOUND  CHANNELS   INBOUND  CHANNELS   Direct   Mail   Contact   Centers   E-­‐mail   Web  sites   Text   Mobile   Branches/   Stores   Social   Media   Social   Media   CUSTOMER  
  22. 22. Assembling  your  Dialogue  Strategy  
  23. 23. Event  Triggers:  Choreographing  the  Customer  Rela)onship    •  Customer “life cycle” triggers •  e.g. new customer, cross-sell, contract expiration•  Customer “life stage” triggers •  e.g. New baby, empty nester, retirement, marriage, birthday, etc•  Transaction behavioral triggers •  e.g. Abnormal changes in transactional purchase patterns, spending habits, account deposits, etc•  Customer-initiated triggers •  e.g. Inbound interactions, online behavior•  External triggers •  e.g. Socioeconomic & competitive
  24. 24. Effec)vely  Orchestra)ng  Customer  Dialogue  Choreograph  Cross-­‐channel  Dialogue  Across  All  Customer  Touch  Points    •  Online:     Email,  web,  PURL     Seek  an  Easy-­‐to-­‐use  •  Social:     Interface  Designed   Twier,  Facebook   for  Marketers      •  Mobile:     SMS,  MMS   •  Low  learning     curve    •  Offline:     •  Intui5ve   Direct  mail,   opera5on  even   telemarke5ng   for  complex  mul5-­‐   step,  mul5-­‐•  Service   channel  scenarios   Branch,  ATM,     call  ctr,  IVR,  web  •  Listening:     Integrated  online   surveys,  preference   management,  feedback   management   page  25  
  25. 25. Trends in Omni-channel Dialogue:Closing the Marketer’s “Blind-spot” ANONYMOUS KNOWN Continuous
 PROFILES Identify! Append! Profiling! Transfer! Verify! Merge! Synchronize! Continous
 Dialogues! DIALOGUES Crowd Driven! ! Rules Engine Based! Micro Decisions! Big Decisions! On The Best Next Action! Trigger and Inject! Relevant experiences on the right channel! Social Channels Mobile & Web Channels Integrated Traditional Channels
  26. 26. Agenda  Now  lets;  review  how  PBBI  capabili5es  are  synched  and  matched  to  the  requirements  of  an  organiza5on  in  helping  them  build  out  life5me  rela5onships  with  their  customers.      
  27. 27. Case  Study:  Op)mized  Dialogue  Business  Challenge:    Increase  customer  life5me  value  and  provide  ideal  customer  experience  by  op5mizing  every  contact  with  mass-­‐affluent  customers       Benefits  Portrait  “best-­‐next-­‐ac>on”  was   §   35%  increase  in  revenues  ($$  millions  weekly)  implemented  within  Merrill  Lynch  Wealth  Management  ‘s  exis>ng  CRM    call  centers,   §   55%  improvement  in  client  sa5sfac5on  web  site,  IVR  and  branches.   §   14%  improvement  in  agent  produc5vity     §   26%  increase  in  customer  reten5on   §   16  week  implementa5on     edia     &  1to1  M  
  28. 28. Benefits  of  Moving  from  Campaign  to  Dialogue   Sales from 1:1 Marketing700,000600,000500,000400,000300,000200,000100,000 0 -­‐  7  00/01 -­‐  6  01/02 -­‐  502/03   -­‐  403/04 Years Years    Years    Years   -­‐  3  Years     -­‐  2  Years     -­‐  1  Year     04/05 05/06 06/07 07/08 Today         Tradi5onal  Direct  Marke5ng   Direct Marketing Promptsnbound  Dialogue   Op5mized  I Real  World  Results  from  an  Actual  PBS  Customer  
  29. 29. Defining  Your  Omni-­‐channel  Strategy 1.  Data   Capture  from  day  1  of  rela5onship   Establish  “your”  360°  view   Validate,  enrich,  integrate   2.  Insight   Move  beyond  markets/segments   Predict  future  needs  at  individual  level   Infuse  into  every  omni-­‐channel  interac5on     3.  Strategy   Orchestrate  “best  next  ac5on”   Take  stock  of  true  channel  use   Map  goals  to  customer  rela5onship   Take action. Make   4.  Communica)on   quick gains in as little Leverage  “engagement”  channels   as 16 weeks– without Close  the  “blind  spot”   ripping & replacing. Start  simple,  monitor  and  refine  
  30. 30. Q&A     Contact  Us:     Jeff  Nicholson   VP  of  Global  Marke)ng,  CAI   Pitney  Bowes  Soiware     E:   T:  @jnicholson30   L:    hHp://        
  31. 31. Q&A // Submit Your Questions Type  ques)on  here   #CustomerDialogue
  32. 32. Q&A Jeff Nicholson, VP Alicia Fiorletta Global Marketing – Associate EditorCustomer Analytics and Retail TouchPoints Interaction Pitney Bowes Software #CustomerDialogue
  33. 33. Thank You For Attending This Webinar You can download this presentation at: #CustomerDialogue
  34. 34. Join us next week for… 10 Trends Transforming The Store Wednesday, September 26 12 PM ET / 9 AM PT #CustomerDialogue